Indexes down, fuel prices mixed with natural gas up
The Dow Jones industrial average lost 114.02 points, or 0.7 percent, to close at 16,222.17. The Standard & Poor’s 500 index dropped 11.48 points, or 0.6 percent, to 1,860.77. The Nasdaq composite lost 25.71 points, or Janet Yellen says they will stay low for a ‘considerable’ time, then appears to jolt investors with a timetable. 0.6 percent, to 4,307.60.
Benchmark U.S. crude for April delivery gained 67 cents to close at $100.37 a barrel on the New York Mercantile Exchange. Wholesale gasoline fell 3 cents to $2.87 a gallon.
Heating oil lost 1 cent to $2.90 a gallon. Natural gas added 3 cents to $4.48 per 1,000 cubic feet.
Brent crude, used to set prices for international varieties of crude, fell 94 cents to $105.85 a barrel on the ICE Futures exchange in London.
Cheerios gets no sales lift from removing GMOs
Plain old Cheerios are no longer made with genetically modified ingredients, but the switch hasn’t yet translated to a boost in sales.
General Mills, the company that makes the cereal, announced in January that it would start making its plain Cheerios without GMOs, or genetically modified organisms.
The move came after a campaign by the group Green America, which prompted fans to express their support.
On Wednesday, CEO Ken Powell said that the company has gotten supportive letters and online comments for its decision but hasn’t detected a sales lift.
Saturn Ion under scrutiny for possible steering defect
The government is investigating whether General Motors should recall the Saturn Ion compact car for the same steering defect that affected the Chevrolet Cobalt, a similar car.
GM recalled the Cobalt in 2010 to fix power steering motors, which could stop working without warning
The National Highway Traffic Safety Administration says it has gotten 846 complaints about power steering problems in Saturn Ions from the 2004-2007 model years.
– From news service reports